What happens to my estate if I die intestate?

If you die without a valid will in Virginia, it is known as “dying intestate.” This means that the laws of intestate succession will determine how your estate is divided. In Virginia, the surviving spouse and children will get the lion’s share of the assets. If there is no surviving spouse, then any children will inherit the estate, or if there are no living descendants then parents, siblings, grandparents, aunts, uncles, and cousins may be eligible for a portion of the estate. The exact share of the estate that is distributed to each heir may depend on the situation. For example, if there is a surviving spouse, they may be entitled to half or all of the estate, or if there are multiple heirs, they may all receive an equal share. If there are no surviving relatives, the estate will go to the Commonwealth of Virginia. If you die without a valid will, the court will appoint a personal representative to manage your estate. This personal representative will be responsible for ensuring that all debts and taxes are paid and that the remaining assets are distributed according to the laws of intestate succession. It is important to create a valid will in order to ensure that your estate is distributed according to your wishes. If you do not have a valid will, the court will follow the laws of intestate succession to ensure that your assets are distributed properly and that any debts or taxes are paid.

Related FAQs

What estate planning documents must be witnessed?
How do I transfer a business after I die?
How can I plan for the future care of my minor children?
What happens if I die without a trust?
How can I protect my business interests after my death?
What are the benefits of establishing a family limited partnership?
What rights do my heirs have to my estate?
What is an advance health care directive?
What is a durable financial power of attorney?
How do I set up an estate plan?

What happens to my estate if I die intestate?

Related FAQs

Related Blog Posts